If you’re on our site, you’re either considering bankruptcy or in the process of filing. Don’t be intimidated – we help tons of Dallas area families just like you every year with their bankruptcy cases. It’s an unfortunate truth of life – sometimes bad things happen to good people.
Sometimes, all it takes is one financial bump in the road – the loss of a job, a reduction in salary, or an unexpected medical expense – and you’ll be forced to file for bankruptcy. The bankruptcy laws were put in place for just this reason… Everyone deserves a fresh start.
You’ll definitely want to consult with your bankruptcy attorney once you’ve decided to file, but these are a few guidelines that can help you prepare for your bankruptcy. We’ve shared several tips to help you get ready to file, so you’ll have a better understanding when you discuss your situation with your attorney.
Things to do before filing bankruptcy
1. Take a deep breath and try to relax. Filing bankruptcy is a scary process, and most people are incredibly stressed out from the overwhelming debt and relentless calls from debt collectors. Your bankruptcy attorney is there to help you through the process. They’ll help explain the process so you understand what’s happening and what’s coming in the future. Take a deep breath and think about how much better your life will be once you’ve got a clean slate.
2. Be honest with your attorney. Your attorney works for you, and is there to help you through the bankruptcy process. No matter what the circumstances are, you need to be completely honest with your attorney so he or she can help you deal with any legal consequences. If you want a truly clean slate, you have to be 100% honest with your attorney. If you’re in doubt about disclosing anything, just tell your attorney. They need to know EVERYTHING about your financial situation and history to be able to help.
3. Don’t be afraid to ask questions. Like we said in the last tip – your attorney works for you. Most people have no idea how bankruptcy works, but that doesn’t mean you should place blind trust in your bankruptcy attorney. Ask questions, let them clear up anything you don’t understand. It will make the process much less stressful.
4. Give your attorney everything they ask for. If your lawyer asks for documents, provide them as quickly as possible. If your attorney asks you to fill out paperwork, then get it filled out as quickly and accurately as possible. Your attorney isn’t trying to make the process difficult for you – so supply whatever is requested as quickly as possible.
Filing bankruptcy? Don’t do the following:
Bankruptcy laws were created to give a fresh start to honest, hard working Americans. It’s important to work with an experienced bankruptcy attorney who understands the laws and the ramifications of certain actions. You’ll definitely need to consult with an attorney, but the following list shares some common issues and actions that should be avoided:
1. If you’re planning on filing bankruptcy, do not incur any additional debt (or borrow money from any source).
2. If you’re planning on bankruptcy, do not loan money to friends or family.
3. You should also avoid giving property to anyone, or even selling property (without consulting with your bankruptcy attorney first).
4. Don’t transfer any automobile titles while planning for bankruptcy.
5. Don’t omit ANY assets when you’re filling out the paperwork from your bankruptcy attorney.
6. Don’t try to “save” a credit card by leaving it off of your list of creditors.
If you have any questions about bankruptcy, or you’re struggling with debt that seems out of control, call us any time at 214-760-7777 to set up a free, no obligation consultation,. We’re here to help!